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RAI v. WB IMICO LEXINGTON FEE, LLC

Docket Nos. 14-1916, 14-2120.

802 F.3d 353 (2015)

Aviral RAI, Sangeeta Rai, Plaintiffs-Counter-Defendants-Appellees-Cross-Appellants, v. WB IMICO LEXINGTON FEE, LLC, Gary Barnett, Defendants-Counter-Claimants-Appellants-Cross Appellees.

United States Court of Appeals, Second Circuit.

Decided: September 21, 2015.

Attorney(s) appearing for the Case

Lawrence C. Weiner, Wilentz, Goldman & Spitzer, P.A., Woodbridge, NJ, for Plaintiffs-Counter-Defendants-Appellees-Cross-Appellants.

RICHARD H. DOLAN (Thomas A. Kissane, on the brief), Schlam Stone & Dolan LLP, New York, NY, for Defendants-Counter-Claimants-Appellants-Cross-Appellees.

Meredith Fuchs, General Counsel, To-Quyen Truong, Deputy General Counsel, John R. Coleman, Assistant General Counsel, Nandan M. Joshi and Jessica Rank Divine, Litigation Counsel, Consumer Financial Protection Bureau, Washington, D.C., for Amicus Curiae Consumer Financial Protection Bureau.

Before: WALKER, LYNCH, AND LOHIER, Circuit Judges.

This appeal requires us to interpret several provisions of the Interstate Land Sales Full Disclosure Act, 15 U.S.C. §§ 1701 et seq. ("ILSA"). ILSA was enacted in 1968 to combat fraudulent practices in the sale of undeveloped subdivided land to vulnerable consumers misled about the value of the land...

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